Market conditions improve for 600 Group
THE 600 Group, which announced it has received an approach from Qingdao D&D Investment Group Co earlier this month, said market conditions have shown some improvement.
The Leeds-based group designs and distributes machine tools and precision engineered components and laser marking systems with operations in Europe, North America and Australia selling into more than 180 countries worldwide.
Speaking at the company’s annual general meeting, Paul Dupee, chairman, said: “As expected, market conditions have shown some improvement after a slow first quarter of the financial year, with signs of increased activity in North America and the UK home market. There are early indications of renewed business confidence in Europe, and a more settled outlook in Australia since the recent election.
“We now have a simplified business structure, with an additional focus on operational improvements and financial metrics. Significant new product launches at a major trade show last week were well received.”
The city code on takeovers and mergers requires Qingdao D&D Investment Group Co to announce its intentions by 5pm on October 9.
D&D Group, established in 1997, is a professional manufacturer of bench top power tools, including air compressor, metalworking machines and woodworking machinery. Its global distribution network spreads over North America, Latin America, Europe, Asia & Pacific, the Middle East and Africa.
